Based upon preliminary vote tabulation, the Company announces that
shareholders overwhelmingly approved re-election of the three directors
on the ballot: Lisa Caputo, Kathy Higgins Victor and Gerard Vittecoq.
Shareholders also approved all but one proposal submitted for
consideration. The Company will file a Form 8-K reporting preliminary
voting results today.

Approved items included a non-binding shareholder proposal requesting
that the board take action to declassify its structure and require every
director to stand for reelection on an annual basis. The measure on
declassification was supported by the board of directors as a
demonstration of the Company’s commitment to transparency and strong
corporate governance practices. Based on the strong shareholder support
for the proposal, the board expects to move forward in implementing the
proposal at the Company’s next annual shareholder meeting.

Shareholders voted against the nonbinding advisory “Say on Pay” proposal
regarding the fiscal 2012 compensation of Best Buy’s named executive
officers. Shareholder advisory firm ISS had recommended that
shareholders vote against this proposal primarily due to the separation
package paid to former CEO Brian Dunn. The Company understands and will
take the feedback of the shareholders under consideration in future
compensation deliberations. Furthermore, the board is encouraged that
shareholder advisory firms, including ISS, have affirmed the go-forward
executive compensation plan because of its range of best market
practices and alignment of executive pay and corporate performance.

The board also implemented a change to the company’s bylaws that will
conform them to Minnesota statutes by setting 25 percent as the minimum
threshold of ownership required for a shareholder to call a special
meeting related to a change of control.

About Best Buy Co., Inc.

Best Buy Co., Inc. (NYSE:BBY) is a leading multi-channel global retailer
and developer of technology products and services. Every day our
employees — 167,000 strong — are committed to helping deliver the
technology solutions that enable easy access to people, knowledge, ideas
and fun. We are keenly aware of our role and impact on the world, and we
are committed to developing and implementing business strategies that
bring sustainable technology solutions to our consumers and communities.
For information about Best Buy, visit www.bby.com
and to shop at Best Buy, visit www.bestbuy.com.

Forward-Looking and Cautionary Statements

This news release contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995 as contained in
Section 27A of the Securities Act of 1933 and Section 21E of the
Securities Exchange Act of 1934 that reflect management’s current views
and estimates regarding future market conditions, company performance
and financial results, business prospects, new strategies, the
competitive environment and other events. You can identify these
statements by the fact that they use words such as “anticipate,”
“believe,” “estimate,” “expect,” “intend,” “project,” “guidance,”
“plan,” “outlook,” and other words and terms of similar meaning. These
statements involve a number of risks and uncertainties that could cause
actual results to differ materially from the potential results discussed
in the forward-looking statements. Among the factors that could cause
actual results and outcomes to differ materially from those contained in
such forward-looking statements are the following: general economic
conditions, changes in consumer preferences, credit market constraints,
acquisitions and development of new businesses, divestitures, product
availability, sales volumes, pricing actions and promotional activities
of competitors, profit margins, weather, natural or man-made disasters,
changes in law or regulations, foreign currency fluctuation,
availability of suitable real estate locations, the company’s ability to
react to a disaster recovery situation, the impact of labor markets and
new product introductions on overall profitability, failure to achieve
anticipated benefits of announced transactions, integration challenges
relating to new ventures and unanticipated costs associated with
previously announced or future restructuring activities. A further list
and description of these risks, uncertainties and other matters can be
found in the company’s annual report and other reports filed from time
to time with the Securities and Exchange Commission, including, but not
limited to, Best Buy’s Annual Report on Form 10-K filed with the SEC on
May 1, 2012. Best Buy cautions that the foregoing list of important
factors is not complete, and any forward-looking statements speak only
as of the date they are made, and Best Buy assumes no obligation to
update any forward-looking statement that it may make.